Our lawyer has discovered a a legal deficiency with the lease for the flat we are purchasing in Blackwell. The other side have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must ensure that the lender is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender requirements have to be complied with.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to use a high street conveyancing solicitor in Blackwell?
You should check but the the probability is that appoint one of their panel lawyers if you take up the "fee-free" incentive. Contact the bank and ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Blackwell.
Should my solicitor be making enquiries about flooding as part of the conveyancing in Blackwell.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Blackwell. There are those who acquire a house in Blackwell, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that can be carried out by the buyer or by their solicitors which can figure out the risks in Blackwell. The standard information given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to discover if the property has suffered from flooding. In the event that the residence has been flooded in past which is not notified by the owner, then a buyer could issue a legal claim for losses as a result of such an inaccurate answer. A purchaser’s conveyancers will also commission an enviro search. This should higlight whether there is any known flood risk. If so, further inquiries should be made.
I have a semi-detached Georgian property in Blackwell. Conveyancing practitioner represented me and TSB. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching property. Is it worth asking TSB to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blackwell and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing practitioner who carried out the work.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Blackwell is the location of the property. Can you offer any guidance?
Flying freeholds in Blackwell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blackwell you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blackwell may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to find a conveyancing solicitor for leasehold conveyancing in Blackwell. I've discover a site which looks to be the ideal answer If there is a chance to get all this stuff done via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?